Sec. 201. TWO-YEAR EXTENSION OF TRANSITION RULE TO PENSION FUNDING REQUIREMENTS
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## SEC. 201 TWO-YEAR EXTENSION OF TRANSITION RULE TO PENSION FUNDING REQUIREMENTS ###
(a)In General **[**[26 U.S.C. 412 note](/us/usc/t26/s412)**]** Section 769(c) of the Retirement Protection Act of 1994, as added by section 1508 of the Taxpayer Relief Act of 1997, is amended— ####
(1)by inserting “except as provided in paragraph (3),” before “the transition rules”, and ####
(2)by adding at the end the following: > > #### “(3) Special rules > > In the case of plan years beginning in 2004 and 2005, the following transition rules shall apply in lieu of the transition rules described in paragraph (2): > > > ##### “(A) > > For purposes of section 412(l)(9)(A) of the Internal Revenue Code of 1986 and section 302(d)(9)(A) of the Employee Retirement Income Security Act of 1974, the funded current liability percentage for any plan year shall be treated as not less than 90 percent. > > > ##### “(B) > > For purposes of section 412(m) of the Internal Revenue Code of 1986 and section 302(e) of the Employee Retirement Income Security Act of 1974, the funded current liability percentage for any plan year shall be treated as not less than 100 percent. > > > ##### “(C) > > For purposes of determining unfunded vested benefits under section 4006(a)(3)(E)(iii) of the Employee Retirement Income Security Act of 1974, the mortality table shall be the mortality table used by the plan.” > . ###
(b)Effective Date **[**[26 U.S.C. 412 note](/us/usc/t26/s412)**]** The amendments made by this section shall apply to plan years beginning after December 31, 2003.
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Sec. 201
TWO-YEAR EXTENSION OF TRANSITION RULE TO PENSION FUNDING REQUIREMENTS
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